5 Best International Money Transfer Apps in Malaysia

Claire Millard
Şeyma Mektepli
Last updated
30 June 2023

International money transfer apps are becoming increasingly popular -whether it’s sending money to family abroad for gifts, payments for tuition, or even payments to foreign contractors. The popularity of these apps is mainly due to their ease of use and relatively low cost, as they are often cheaper than traditional methods.

In this review of the 5 Best International Money Transfer Apps such as Wise and WorldRemit, we give an overview and explore the pros and cons of each app. We'll also look at their services, available currencies, fees, and more to help you decide which app best suits your needs.

Key points: Best money transfer apps

  1. Wise: Simplicity and transparenct fees are two of Wise’s key features. This, along with their robust security and midmarket exchange rate, has made Wise an increasingly popular choice.

  2. WorldRemit: With a reputation for low fees, speedy transfer times, and outstanding customer service, WorldRemit has become one of the top international money transfer services in the world.

  3. CurrencyFair: Offers low fees and exchange markups. It features a unique and innovative exchange marketplace where users can match their ideal exchange rates.

  4. PayPal: PayPal is well established and trusted by millions of users, as proven by the over 9 million combined App Store and Play Store reviews. Its easy-to-use interface and near-instant transfers have cemented PayPal’s popularity.

  5. Western Union: Western Union has been in the international wire transfer industry for over 150 years and has more than 500,000 agents worldwide. The service is an extremely popular choice for cash pickup transfers.

Now, let's look at each provider in detail.

1. Wise – low fees with mid market exchange rate

Fees:  2.19 MYR + 0.61% of transaction value

Exchange rates: Mid market exchange rate

Safety: Dedicated anti-fraud team, real-time account activity notifications, two-factor authentication, 3D Secure verification.

Speed: Transfer within one business day

Transfer: Send money to 70+ countries. Transfers to and from Malaysia are available.

Customer reviews: 4.7/5 from 46,798 reviews on Apple App Store, 4.7/5 from 441,000 reviews on Google Play Store.

Formerly known as TransferWise, Wise was founded in 2011. Since then the service has grown significantly in popularity due to its low fees, user-friendly features, and focus on transparency.

One unique feature is Wise multi-currency account which allows users to hold many different currencies in the same account. The multi currency account works with a linked debit card that you can use to spend local currency wherever you are. Learn more about the Wise debit card here.

Wise is also known for its dedicated anti-fraud team, transaction security and data protection measures that allow users to send and receive money with ease and comfort.

Go to Wise

Advantages of sending money with Wise

  • No hidden charges: All fees are shown up-front so users know exactly what they are paying before making the transaction.

  • Near instant transfers: 50% of transactions are instant*.

  • Very easy to use: Simple and user-friendly interface.

  • Multi-currency account: Can hold more than 40 currencies at the same time. Get local bank account details in 10 currencies (including EUR, USD, GBP and MYR).

  • Advanced security: Wise uses state-of-the-art transaction and data protection methods to protect transactions and data from malicious interference.

Disadvantages of sending money with Wise

  • No cash pickup option: Money can only be sent to a bank account

  • Variable fees: Fees may vary from country to country

  • Only online: No option to send money from a physical location, requires internet access

    Wise is known for its great user experience, especially on mobile. The interface is clean, clear and intuitive, and free from unnecessary clutter. This makes the app easy to use and speeds up the transfer process.

App StorePlay Store
Rating 4.7/54.7/5
Number of reviews 46,798441,000
Go to Wise


*The speed of transaction claims depends on individual circumstances and may not be available for all transactions

2. WorldRemit – offers cash pickup option

Fees: 5 MYR per transaction

Exchange rate: Exchange rate might include a markup

Safety: A strict verification process and dedicated teams that monitor for unusual account and transaction activity.

Speed: Transfer within 1 business day.

Transfer: Send money to 130 countries. Transfers to and from Malaysia are available.

Customer reviews: 4.8/5 from 169,700 reviews on Apple App Store, 4.2/5 from 173,000 reviews on Google Play Store.

Since its inception in 2010, WorldRemit has been fulfilling co-founder Ismail Ahmed’s dream of sending money overseas without paying a fortune. In just over a decade, WorldRemit has grown to serve more than 5.7 million people to send money to nearly 130 countries, using 70 different currencies, becoming one of the leading foreign remittance services in the world.

The company’s rise in popularity is no surprise considering its quick, one-day transfers, affordable transfer fee, and favorable foreign exchange rates.

Customers in Malaysia can transfer up to 14,500 MYR per transaction and up to 30,000 MYR per day using the company’s desktop, iOS, or Android apps. The apps come in six different languages, including English, French, German, Spanish, Dutch, and Danish.

Go To WorldRemit

Advantages of sending money with WorldRemit

  • Low fees: Offers low fees and favorable exchange rates.

  • Fast transfer times: Recipients get their money within one day.

  • User-friendly interface: The interface is simple and intuitive and guides customers through the transfer process with clarity.

  • Transaction tracking: Customers can track the progress of their transfer via the mobile app.

  • Many transfer options include bank transfer, cash pickup, mobile money, and Airtime Top up.

Disadvantages of sending money with WorldRemit

  • Account verification issues: Some customers commented that they have experienced difficulty verifying their accounts.

  • Not all delivery methods are available in all locations: Some countries only have access to one delivery method.

WorldRemit has a very simple and user-friendly interface on all platforms, including desktop and mobile. The interface guides you through the transfer process clearly,  without the distraction of too many choices.

App StorePlay Store
Rating 4.8/54.2/5
Number of reviews 169,700173,000
Go To WorldRemit

3. CurrencyFair – currency exchange marketplace

Fees: 3 Euros (or its currency equivalent)

Exchange rate:  0.53% exchange markup

Safety: Regulated by the Central Bank of Ireland. Uses transaction tracking, strict account verification, and monitoring.

Speed: Transfer within 1 - 5 business days

Transfer: Currencyfair only provides transfers to Malaysia, not from Malaysia.

Customer reviews: 4.7/5 from 822 reviews on Apple App Store, 3.6/5 from 923 reviews on Google Play Store.

CurrencyFair has been in the international money transfer industry for over a decade, but the company has gone largely unnoticed compared to the more popular apps in this article. However, the Dublin, Ireland-based service is growing in popularity due to their low exchange fees, zero transaction cap, and innovative peer-to-peer exchange marketplace.

This marketplace allows users to set their desired exchange rate for a specific currency and then wait for a seller to match that rate. The process is completely transparent, with no hidden costs, so users know exactly what they are paying before they complete a transaction. While this can lead to fairly big savings, it also requires patience.

Those who don’t want to wait can always choose the best marketplace rate for immediate transactions. To some, the marketplace may feel a little gimmicky, but the concept is solid and has a lot of potential.

Go to CurrencyFair

Advantages of sending money with CurrencyFair

  • Very good exchange rates: CurrencyFair charges a mere 0.53% exchange markup.

  • Send money to nearly every country in the world: Provides transfers to more than 150 countries.

  • No transaction limits: No limit on the amount of money that can be sent per transaction or number of transactions (within local regulations).

  • Peer-to-peer exchange marketplace: Lets users choose, set and track their preferred exchange rate by matching with other users who want to buy the currency at that particular rate.

  • AWS security built-in: Hosted on the AWS cloud platform which is known for its high levels of security.

Disadvantages of sending money with CurrencyFair

  • Supports only a handful of currencies: Currently doesn't support transfers in Malaysian Ringgit. But they support transfers to Malaysia from other countries.

  • Limited coverage: Users in many countries in Africa, the Middle East, and Asia can’t open accounts.

  • No cash send option: Can only transfer funds to a bank account.

  • Exchange marketplace may take a long time to match: Affected by currency demand and exchange fluctuations.

The user interface is clean and relatively straightforward, especially when setting up a transfer. However, the complexity and options increase as the user progresses through the app, making the text on certain pages quite small. This may cause difficulty for those with visual impairments.

App StorePlay Store
Rating 4.7/53.6/5
Number of reviews 822923
Go to CurrencyFair

4. PayPal – widely used provider

Fees: 2 MYR

Exchange rate: 3.4 to 4% conversion rate

Safety: State-of-the-art connection protocols, key pinning on mobile and PCI-compliant data protection, as well as real-time monitoring and account analysis for suspect activity.

Speed: Transfer within one day

Transfer: Send money between PayPal accounts almost anywhere in the world.

Customer reviews: 4.8/5 from 6.2 million reviews on Apple App Store, 4.2/5 from 2.97 million reviews on Google Play Store.

PayPal is the oldest and arguably most well-known of the newer generation of international money transfer providers. Its success and popularity can be seen in the enormous number of great reviews on Apple’s App Store and Google’s Play Store, far outnumbering those of its competitors.

This popularity can be attributed to PayPal’s simple and user-friendly interface, the near-instant speed of transactions, and their almost universal acceptance in global markets.

The company’s popularity has also made it a target for scammers. But PayPal’s top-level, cutting-edge safety and security measures give users peace of mind and confidence in the service.

Advantages of sending money with PayPal

  • Easy to use: Send money from one account to another with ease.

  • Established and trusted service: Has been operating for more than 20 years and has proven to be trustworthy and secure.

  • Fast transfers: Transfers between PayPal accounts are almost instant.

Disadvantages of sending money with PayPal

  • Need a PayPal account: Both sender and recipient need a PayPal account to be able to send and receive money.

  • High transfer fees: Most banks charge an extra fee when withdrawing money from a PayPal account.

  • PayPal transfer fees might be confusing: It can be difficult to tell exactly what fee is charged.

  • Confusing transfer limits: Users in Malaysia can transfer up to 60,000 USD per transaction. However, it may be limited to 10,000 US, and PayPal doesn’t indicate conditions for when this limit is implemented.

PayPal is very easy to use once you’ve signed up for the service. The app is straightforward and clutter-free.

App StorePlay Store
Rating 4.8/54.2/5
Number of reviews 6.2M2.97M

5. Western Union – wide international network

Fees: 5 MYR + currency conversion fee + intermediary bank fee

Exchange rate: Might include a marked up exchange rate

Safety: Robust security that includes touch ID on mobile, transfer tracking, encrypted transfers, and PCI DSS-level data protection.

Speed: Transfer within 1-5 business days

Transfer: Send money to over 200 countries. Transfers to and from Malaysia are available.

Customer reviews: 4.8/5 from 618,800 reviews on Apple App Store, 4.2/5 from 272,634 reviews on Google Play Store.

Established in 1871, Western Union pioneered the wire money transfer service and was the first to send money via telegram. More than 150 years later, the company is considered one of the world's largest international money transfer services. They serve more than 150 million customers from its more than 500,000 agent locations, desktop, and iOS & Android apps.

Western Union offers a range of services, including money transfers to bank accounts. However, their cash pickup service is particularly popular, especially among migrant workers who send money internationally to their home country.

Advantages of sending money with Western Union

  • Well established and trustworthy: Western Union has been around for more than 150 years and remains a leader in the international money transfer industry.

  • Great for cash pickups: Western Union is popular for its cash pickup service, especially in developing countries.

  • Massive network: They have more than 500,000 agents in almost every country, making them one of the most accessible remittance service providers in the world.

  • No internet access needed: Customers can send money in-person from a Western Union agent.

  • Track transfers: Customers can track the transfer process via the Western Union mobile app.

Disadvantages of sending money with Western Union

  • High exchange markup and relatively non-transparent fee structure: While fees are stated upfront, the company often charges an unspecified currency exchange markup on fairly poor exchange rates.

  • Very low transfer limit: 3,000 MYR limit.

  • Limited accessibility: Despite their extensive global coverage, some countries may have limited channels for sending and receiving money.

The Western Union app is available on both iOS and Android and works on most modern Desktop browsers. The user interface is fairly easy to use, but it is not always clear and may get confusing for those who are not very comfortable with technology.

App StorePlay Store
Rating 4.8/54.6/5
Number of reviews 618,800272,634

What is the best app for international money transfer?

Different apps have different features and you should choose the app with features best suited to your needs. Here’s a brief summary of the five apps listed above.

App Name Best for*

Mid-market exchange rate and transparent fees

Fees: 2.19 MYR + 0.61%

Speed: 0 - 1 day

Send money to 70+ countries from Malaysia. Transfers to and from Malaysia are available

Transfer limits: 30,000 MYR

Supports English + 14 languages

Available in iOS, Android & most desktop browsers 


Cash pickups, range of payout options

Fees: 5 MYR + conversion fee.

Speed: 1 business day

Send money to 130 countries. Transfers to and from Malaysia are available. 

Limits: 14,500 MYR per transaction & 30,000 MYR per day

Supports English + 5 languages

iOS, Android & most desktop browsers


Marketplace for peer-to-peer exchange.

Fees: 3 Euros (or its currency equivalent) + 0.53% exchange markup

Speed: 1 - 5 business days

Only provides transfers to Malaysia, not from Malaysia.

No transfer limits

Support English, French, German

Available in iOS, Android & most desktop browsers


Quick transfers

Fees: 2 MYR + 3.4-4% conversion rate

Speed: 0 - 1 day

Send money between PayPal accounts almost anywhere in the world.

Limits: up to 60,000 USD  / ~ 272,000 MYR (verified account)

Supports English +36 languages

Available in iOS, Android & most desktop browsers

Western Union 

Cash pickups, wide network

Fees: 5 MYR + conversion fee + intermediary bank fee

Speed: 1-5 business days

Send money to over 200 countries. Transfers to and from Malaysia are available.

Limits: 3,000 MYR

Supports English + 21 languages

Available in iOS, Android & most desktop browsers

Now, let's look at their mobile app ratings on App Store and Google Play Store:

International Money Transfer AppsApp StorePlay Store
Ratings Number of reviewsRatings Number of reviews
Western Union 4.8/5618,8004.2/5321,000

*The aim of this article is to provide an objective comparison between providers by using freely available information from the Apple App Store and Google Play Store. The scores were taken from the App Store and Google Play Store on 21 June 2023_._

Learn more about WorldRemitLearn more about Wise

Related: Best bank to transfer money internationally

Conclusion: What is the best app to transfer money internationally?

In this article, we looked at some of Malaysia's top international money transfer apps. We explored the services and features that make each app stand out and what they are most suited to.

Use it as a guide to help you decide which international money transfer provider best suits your needs. Remember, each app won't be for everyone, so always do your research when deciding which app to use.

To make it easier, Exiap lets you compare providers transparently so that you can make an informed decision when choosing the best international money transfer service for you.

FAQs on Best Apps for International Money Transfer

What is the easiest app to send money?

It depends. Most modern international money transfer apps are designed to make the process as easy as possible. These apps have their own particular pros and cons and how easy it is to transfer money depends on the app most suited to your needs.

Which money transfer apps work internationally?

Most international money transfer apps can be used to send and/or receive money from outside Malaysia, but not all apps provide services to and/or from all countries.

Which apps transfer money instantly?

Many transfers on PayPal, Wise, and WorldRem can happen instantly. Note that there may be other factors that can potentially delay the transaction, such as currency, country, amount, method of transfer, intermediaries, and more. Always check with the provider before making the transaction.

How do international money transfer apps work?

To make a payment with an international money transfer app you’ll need to create an account, then get a quote for the fees and exchange rate available. Pay with your card, through a bank transfer or other available method, and your money will be on its way.

Are money transfer apps safe to use?

Virtually all international transfer services use a combination of measures to ensure the safety and security of transactions and data. However, no system is 100% safe and you should always be vigilant. Look out for suspicious account activity or app behavior, choose strong passwords, activate two-factor authentication when available, and never give information or other personal details over the phone or by email.